Target Financial News

Siddhartha Khemka, V-P, Head of Research (Retail), MOFSL, says “Reliance Industry’s core business which is facing headwinds, will not see recovery in the near term. Jio Financial post listing has not seen much excitement. The telecom business has been pretty stable though. All put together, we would not see a huge upside but I would expect it to remain steady in terms of share price movement for the next couple of weeks.” Do you think the triggers are in place for a meaningful up move from Reliance from these levels? In Reliance, there have been multiple headwinds. If we look at their last few AGMs, they have heavily invested into new-age or the alternate fuels where a few years back, they were talking about net debt-free and cash surplus. Again, with the investment cycle coming up, the core business is getting some pressure. The Singapore GRMs have come off from their highs and that is also hurting the oil business. If you put together all the pieces, the core business where there are headwinds, will not see recovery in the near term. We saw the Jio Financial listing but post listing, there has not been much excitement there. The telecom business has been pretty stable though. All put together, we would not see a huge upside but I would expect it to remain steady in terms of share price movement for the next couple of weeks.

Flipkart has merged key technology and product roles in its new businesses of Cleartrip (travel) and Flipkart Health Plus (epharmacy) into the core commerce team to streamline operations, multiple people aware of the matter said. These changes have come into effect over the past few weeks, they added. The integration has come ahead of Flipkart's flagship festive season sale of BigBillionDays, which may kick off on October 7 or 8 – two to three days ahead of rival Amazon’s festive sale that is set to start on October 10, these people said. Flipkart has, however, yet to finalise the dates.

Morgan Stanley has raised price targets on shares of large-cap and mid-cap Information Technology stocks. The brokerage’s top picks in the sector are HCL Technologies, LTIM, Infosys, and Cyient.

KX Systems is planning to enter the India market and set up sales and research & development offices in Bengaluru and Mumbai, a top executive at the software firm said. The company wants to target Indian developers, IT firms and other enterprises as it plans to capture the country’s artificial intelligence market that is expected to touch $4.2 billion by 2030, chief executive Ashok Reddy said.

Incred Equities has reiterated 'overweight' rating on the Nifty with a target of 21,103, implying an upside of over 7% from Wednesday's closing of 19,716. The recent correction has made valuation of large-caps attractive, while the premium valuation of the mid-cap index is a concern, said the firm's head of equity research Pramod Amthe in a note.

Russia has accused Ukraine’s Western allies of helping plan and conduct last week’s missile strike on the Black Sea Fleet’s headquarters in Crimea

In the ever-evolving world of cryptocurrencies, Bitcoin remains the predominant leader, showcasing its dominance as the number one cryptocurrency on CoinMarketCap. 

Britain has given the go-ahead for a major oil and gas project in the North Sea, ignoring warnings from scientists and the United Nations that countries must stop developing new fossil fuel resources if the world is to avoid catastrophic climate change

The U.S. Justice Department filed a civil complaint against eBay, claiming the online marketplace unlawfully sold and distributed hundreds of thousands of products like pesticides and motor vehicle emission-evading devices that violate environmental laws

The United Auto Workers union says it will announce on Friday how it plans to expand its strike against Detroit’s three automakers

Genesis Minerals has established its place as the top dog in Western Australia’s gold consolidation, but a recent uptick in its short interest has investors wondering if it’s got another big M&A play afoot or if it’s just nursing a hangover from the recent index inclusion.

Disney Star, which has set an advertising revenue target of over ₹4,000 crore from the ICC Men's Cricket World Cup (CWC), has signed up multiple sponsors. The company has engaged PhonePe, Mahindra, Coca-Cola (Charged), HUL (Glow and Lovely), IndusInd Bank, Mondelez and Jindal Panther as broadcast sponsors.

₹33,000 crore for its 33.47% stake and will only cede control if binding bids value the drugmaker at ₹1 trillion, according to one of the two people. “The latest discussions with Cipla promoters’ bankers regarding valuations and the premium to market price happened on Friday," said the first person, who added that Cipla’s promoters want a price of a little over ₹1,200 per share. Cipla’s shares ended trading at ₹1,180.50 on Wednesday, valuing the company at ₹95,300 crore.

US Treasury yields were little changed to modestly higher on Wednesday, as traders took a breather after a months-long sell-off fueled by expectations that the Federal Reserve will keep rates high for some time to bring inflation down to its 2% target. Yields, however, are expected to stay high, with the latest pullback seen as a minor blip. «In the near term, there is pro-active reluctance to buy (Treasuries) particularly given the speed of the latest sell-off,» said Ben Jeffrey, rates strategist, at BMO Capital in New York. «There are definitely enough risks out there in terms of labor market growth and the economy, as well as the risk of a government shutdown that will eventually help to bring some demand and push rates lower,» he added. In the credit default swaps market, the threat of another government shutdown sent one-year credit default swaps to their widest since June 1, when the US government was on the cusp of a technical sovereign default as politicians in Washington haggled over the borrowing limit. U.S. one-year credit default swaps widened to 22 bps on Wednesday, from 21 bps at Tuesday's close.

NEW DELHI : The central government on Tuesday announced that it will borrow ₹6.55 trillion during the second half of the ongoing fiscal year, keeping its borrowing plans unchanged. Mint explains the relevance of this for the Indian economy. The central government will borrow ₹6.55 trillion during the second half of the ongoing fiscal year, which comprises 42.45% of its gross market borrowing of ₹15.43 trillion for the full year.

NEW DELHI : The finance ministry will hold a series of meetings with various ministries and departments starting early October to finalize the revised budget estimates for FY24 and the FY25 budget numbers with a pre-election focus on balancing a possible rise in subsidy requirements with the need to maintain fiscal prudence. As many as 65 meetings will be held within a span of a month, a person informed about the official schedule of consultations said.

ThunderCore has seen a remarkable 14% surge, capturing significant attention in the crypto community. However, amidst the buzz surrounding this ascent, there's another contender quietly making waves: the crypto AI project, LPX. 

Kerala is pursuing an ambitious goal of helping 1000 small and medium enterprises (SMEs) scale up to an annual turnover of Rs 100 crore in three years with technology adoption. “This is part of Kerala’s Mission 1000 programme. The government will handhold these SMEs and help them modernise and adopt best global practices,” Kerala’s Industries, Law & Coir Minister P Rajeeve told ET.

Just 24 hours after listing on top-tier centralized exchanges OKX and Huobi, Wall Street Memes ($WSM) has soared into the ranks of the top meme coins.

Investing.com -- Some analysts have kept their outlook for the future prospects of Amazon (NASDAQ:AMZN) shares unchanged despite the $1.3 trillion e-commerce giant facing a landmark anti-trust lawsuit from the U.S. Federal Trade Commission.

LISBON (Reuters) — Sustainable aviation fuel (SAF) is likely to stay more expensive than kerosene even when large-scale production kicks in and the cost won't deter airlines from their carbon emission targets, International Air Transport Association (IATA) head Willie Walsh said.